Watch List August 6th

Good Morning,

First of all apologies for the connectivity issues that I have been having the last 2 days. Tropical storm Isaias knocked out power to my home and as of now it is still not back up, but I was able to get to another location where I have good connectivity and I can screen share. Yesterday we were able to book some very nice profits in LPCN and RIOT swing trades as the market pushed up and almost filled the gap from February. This morning we are seeing a bit of a gap down in the major indices ahead of the jobless claims numbers at 8:30 AM Eastern. Overall not much has changed for me here as far as still seeing the path of least resistance as up but with caution. Here are some names that I am watching today:


WORK is a name that I still like short on a break of $30 for a test of $28 and possible break lower


AAL tested a key anchored vwap level at 13.10 this morning in the premarket, and I like it over that level for a push up to $14 or higher


GRMN gapped up on earnings last week and then sold off pretty good but held its sma50 perfectly and is pushing back up. I like this on a soft open and red to green move for test of last week's highs and possibly push up towards $110


FOLD is setting up for a 3/8/20 cross as it heads into earnings next Monday. I would be interested long on a soft open that goes red to green today for a run into earnings


JBLU is setting up for a 3/8/20 cross with a TTM Squeeze. I like this over the sma50 at 11.07 for a push up to 12 or higher as the airlines are all moving up on potential stimulus package


LYFT is another name in a 3/8/20 cross with a TTM Squeeze heading into earnings next Wednesday. I like this on a soft open and red to green move for a push up to test the sma50 and possibly head up to the sma200


SNAP is a name that I still like short but would be looking for a test of the ema8 and sma50 around $22 on the daily that fails for an entry and look to see it go down and test and possibly break the $20 level






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